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Thursday, April 18, 2024

Solana-Based Meme Coin WIF Explodes 16% Daily as SOL Price Challenges $110

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Solana’s ecosystem has been booming in the past few months, giving birth to a number of meme coins that came to prominence only to decline and subsequently fade into oblivion. That hasn’t been the case with WIF, however, as – by all measures – it appears that the dog, indeed, still has a hat.

Dogwifhat (WIF) has seen its price exceed $0.40 in the past 24 hours, surging by more than 16%, as seen in the chart below:

Source: Dexscreener

It’s worth noting that WIF’s move comes amid a broader market recovery, as Bitcoin’s price is also pushing toward $52K at the time of this writing.

Last evening, BTC tumbled below $51K, but the dip was quickly scooped, and the price recovered.

Today, however, the market is green. Solana is also trying to push forward, currently trading at slightly below the important $110 level. The cryptocurrency is up 1% daily.

The meme coin market, in the face of the frontrunners – Dogecoin and Shiba Inu (SHIB) is also in the green. DOGE is up 0.5%, closing in on $0.085, while SHIB charted a mild increase of 1% for the day.

It’s interesting to see if this particular segment will pick up in the coming days. Meme coins tend to be incredibly volatile and explosive, with their values ranging wildly in short time frames.

We have a dedicated guide on meme coins that you can find here:

What is a Meme Coin? The Biggest Meme Coins You Must Know About

For those who prefer video format, feel free to take a look at our detailed video guide:

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